Polygon Expands Its Footprint As Evolving NFT And Gaming Ecosystems Seek Ethereum Alternatives

Polygon (previously Matic), was created with simplicity and ease-of-use in mind. This platform allows organizations and businesses to develop and deploy decentralized applications (dApps) themselves. It acts as a layer-2 scale solution to address the scalability issues and increasing gas prices of Ethereum and other EMV compatible networks. It can also function as an independent, fully functional chain, making it a popular choice for many blockchain-based projects.

To expand the Polygon’s offering, Polygon’s development team also taps into NFT and Blockchain gaming to further its offerings. Polygon Studios was launched recently by the company as part of their efforts to connect Web2 with Web3. It will be focusing on NFT, and blockchain gaming. Polygon now has over 100,000 users and is growing rapidly. As Polygon moves closer to becoming the top layer-2 destination for Blockchain gaming, DeFi and NFTs, more than 3,000 apps are using the Polygon network’s power.

Polygon’s multichain infrastructure offers many features, including one-click deployment, extended modules for developing custom networks, and interoperability with Ethereum and other individual chains. In 2021, Polygon announced its intention to leverage the growth of NFTs by investing in Colexion, Asia’s biggest NFTs marketplace. Polygon also announced that 50% of development costs would be covered by GameOn, Asia’s leading game startup, in order to bring NFT gaming on the platform.

Polygon has launched grants in the interim to fund promising projects built on the network. The Polygon Foundation granted a grant to Gaia EverWorld’s blockchain-based game Gaia EverWorld. This was in addition to the undisclosed sum. Harnessing Polygon’s unmatched speed and low gas fees, Gaia EverWorld unlocks unlimited opportunities for users in the metaverse.

Some of the most prominent names in the crypto industry, such as Panda Capital and BSCStation are backing Gaia EverWorld. A successful funding round of $3.7 million was completed by the platform. This money will be used to expand into Binance Smart Chain through its NFT collection launch via Binance NFT.

Users often experience slow throughputs, high gas prices and other issues as the NFT and blockchain gaming markets grow. Polygon brings together the best features of Ethereum and sovereign Blockchains to create a highly-recommended platform for up-and coming projects.

While there are hundreds of projects harnessing the power of Polygon, two NFT gaming use cases stand out for their potential to play crucial roles in the nascent blockchain gaming industry’s evolution amid the transition to Web3 and the metaverse.

Different Use Cases Facilitated

XAYA, a blockchain game developer studio that created the game Huntercoin (Blockchain Game Developers Association), is bringing its innovative product suite and experience to Polygon. Autonomous Worlds (the company behind XAYA) has announced that it is entering into a strategic partnership with Polygon for the long-term to integrate its layer-2 gaming infrastructure.

Autonomous Worlds and XAYA will be integrated into Polygon as part of the partnership. This will allow the creation of NFT and blockchain games using the EVM compatible sidechain. By leveraging XAYA’s Game Channels technology and Polygon’s inherent features, the next wave of blockchain games can finally deliver unprecedented levels of scalability and interoperability alongside instant settlement and unlimited transaction capability.

Jelurida is the company behind Nxt and Ardor chains. Even though the Ardor and Ignis chains offer the first-of-its-kind parent-child chain architecture merged with native support for NFTs, high speed, and low costs, projects built atop these chains aren’t currently directly compatible with Ethereum or other EVM-compatible chains.

Through this integration, Ardor-based NFT game Mythical Beings will be able to expand its reach by tapping into Ethereum and other chains while ensuring that users (and projects) benefit from Polygon’s built-in features. Polygon will be used by Mythical Beings to connect its NFT collection with OpenSea. OpenSea is the biggest secondary NFT market on Ethereum.

Mythical Beings’ development team will duplicate all NFTs issued via the Ignis chain of the Polygon network using ERC-1155 tokens. Jelurida has already developed an open-source smart contract that will connect users’ Ignis and Polygon accounts via a bridge, enabling users to send all Ignis-based NFTs to Polygon. Users can transfer them to OpenSea, other Ethereum-based marketplaces or trade USDC and MATIC tokens using the Ignis blockchain.

The Polygon team facilitates a variety of projects and is expanding its presence in the growing blockchain ecosystem. In November 2021, the Polygon team introduced the network’s own community-driven and trustless IDO (Initial DEX Offering) launchpad called Polygen.

Polygen’s decentralized launchpad has been created to eliminate the issues of traditional launchpads, where whales have the highest priority and core objectives of the projects are frequently overshadowed. The Polygen decentralized launchpad allows projects to set their own fundraising goals, select their auction format and then manage their offering. Polygen Launchpad allows projects to launch multiple rounds or interconnected rounds of seed, private and public funding campaigns.

While most traditional launchpads follow the “gatekeeper” system whereby only a few select projects are launched each month, primarily focused on short-term gains, the Polygen launchpad intends to facilitate the long-term success of promising projects.

With so much happening in the cryptoverse, Polygon, Ethereum’s “internet of blockchains,” is rapidly forging a presence across all domains. Polygon, which now hosts more than 3000 dApps is one of the top-growing ecosystems within the blockchain ecosystem. Polygon is the platform that will support NFT and blockchain gaming.

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